Panasonic Carbon forays into Peru, Poland, Thailand, Indonesia
New Delhi: Battery carbon rod maker Panasonic Carbon India Co is expanding its export business by entering many new markets, including Peru, Poland, Thailand, Indonesia and Costa Rica.
The company, in which Japan's Panasonic Corporation holds 63.27 percent stake, is expecting about 65 percent increase in its sales revenue during this financial year.
"The domestic market is almost saturated. Now we are looking to expand our exports. We have just started exports to new countries like Peru, Poland, Thailand, Indonesia and Costa Rica," Panasonic Carbon India Company Managing Director R Senthil Kumar told reporters.
During last financial year, exports contributed about 14 percent to its overall sales revenue of Rs 23 crore, he added.
"In 2012-13, we are hoping that exports will contribute about 45 percent," Kumar said.
According to the company's Annual Report for 2011-12, "two major varieties of carbon rods have passed the quality tests conducted by the Panasonic Group factories in Poland, Peru, Costa Rica, Thailand and Indonesia.
"As the prices also were found to be competitive compared to Chinese competitors...Export is estimated to grow by more than 200 percent".
Talking about its overall sales revenue, Kumar said the company is expecting to witness a jump of about 65 percent during the current financial year.
"Our target is to achieve Rs 50 crore turnover by 2015-16," he added.
The company, which has about 220 employees, has its manufacturing facility in Andhra Pradesh that has an installed capacity of 320 crore pieces every year.
Carbon rod is an essential part of manufacturing dry batteries. The Indian dry battery market stands at about 240 crore pieces annually.